NGVT vs VXX: Correlation
Ingevity Corporation (NGVT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGVT and VXX?
On 3 years of weekly data the NGVT/VXX correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.45 over 3 years. The 5-year figure is -0.44, and annualized covariance runs at -1325.6 %².
Out of 23 assets tracked against NGVT, VXX lands near the bottom at #23. Correlation aside, the last 12 months split them widely, with NGVT ahead by 71.2 points (+21.5% versus -49.7%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
NGVT vs VXX: side by side
| NGVT (Ingevity Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.5% | -49.7% |
| 5-year return | -14.1% | -95.6% |
| Volatility (ann.) | 48.8% | 60.9% |
| Beta vs S&P 500 | 1.39 | -3.31 |
| Max drawdown (3Y) | -45.8% | -83.3% |
| Market cap | $2.4B | – |
| P/E (trailing) | 98.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGVT | VXX |
|---|---|---|
| 2022 | -1.8% | -23.8% |
| 2023 | -33.0% | -72.5% |
| 2024 | -13.7% | -26.2% |
| 2025 | +45.2% | -42.2% |
| 2026 | +17.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVT and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NGVT and VXX?
As of 2026-08-27, the correlation of weekly returns between NGVT and VXX is -0.45 over 3 years, -0.22 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for NGVT?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 mean?
A reading of -0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ngvt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngvt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NGVT correlations · VXX correlations
